No surprises there: BOJ leaves interest rates as is
April 10, 2007
By Ken Worsley
On Tuesday, The Bank of Japan’s policy board decided to leave benchmark interest rates unchanged at 0.5 percent, as economists had expected, after having doubled the rate to 0.5 percent in February. The BOJ’s nine Policy Board members unanimously reached the decision at the end of a two-day meeting, and issued a statement saying that the bank, “Will encourage the uncollateralized overnight call rate to remain at around 0.5 percent.”
This month was even less exciting than last month’s meeting. Expect it to be much of the same in May. We’re predicting the earliest hike in interest rates could be after the Upper House elections in July, and might come in August, before the Diet has a chance to raise the consumption tax - unless further political pressure is applied on behalf of that move.
Filed Under Bank of Japan, Interest Rates
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TPR News: April 11, 2007…
On Tuesday, The Bank of Japans policy board decided to leave benchmark interest rates unchanged at 0.5 percent, as economists had expected, after having doubled the rate to 0.5 percent in February….